CSR Registration
The provisions of Corporate Social Responsibility (“CSR”) are incorporated under the Company Law to make companies more responsible towards betterment of the society and environment. All the companies which fulfill the specified criteria are required to spend 2% of their average profits, made during preceding 3 Financial Years, on the CSR Activities.
Documents Required for Form CSR-1
- Copy of PAN card of the entity.
- Copy of registration certificate of the entity.
- Copy of 12A and 80G exemption certificate, if applicable.
- NGO darpan ID, if applicable.
- DSC of the authorised person signing the form.
- PAN of the authorised person signing the form.
- Company CSR policy.
- Company CSR report.
- Details of the subsidiary and other entities.
What is CSR-1 Registration Eligibility?
The Companies (Corporate Social Responsibility Policy) Amendment Rules, 2021 (“New CSR Rules”) has introduced substantial changes in the specifications and procedure to be followed by the NGOs while discharging their CSR obligations
One of the major changes introduced via New CSR Rules for the NGOs is making registration compulsory for undertaking CSR activities on behalf of companies.
Such registration is required to be taken in e-form CSR-1. The purpose of mandatory registration is for monitoring the activities of the NGOs and other agencies.
What is CSR-1 Registration Eligibility?
To be eligible for CSR 1 registration in India, an NGO must adhere to the following criteria :
- Be a registered Indian charity, non-profit organization, or a Section 8 company.
- Have an Indian bank account.
- Possess a valid PAN card.
- Submit annual financial statements.
- Comply with all other applicable laws and regulations.
What is CSR-1 Registration Rules?
Several laws in India are related to CSR 1 registration. These include
- The Companies Act, 2013: This act mandates that all registered companies in India comply with CSR provisions. Form CSR 1 is required to be filed according to Section 135 of the Companies Act, 2013 and Rule 4 (1) and (2) of the Companies (Corporate Social Responsibility Policy) Rules, 2014. As per Notification issued by Ministry of Corporate Affairs dated 22nd January 2021, from April 1, 2021 CSR Funding will be released only to those NGOs, that are registered with MCA by filing Form CSR 1.
- The Income Tax Act, 1961: Tax-exempt organizations must disclose their income and expenditures under this act.
- The Foreign Contribution (Regulation) Act, 2010: This law regulates the acceptance and utilization of foreign contributions by Indian NGOs.
- The Indian Trusts Act, 1882: This act governs the registration and regulation of trusts in India. Trusts registered under this act are eligible to receive foreign contributions.
